With the April 8, 2023, filing deadline just a few weeks away, taxpayers with Washington capital gains in excess of $250,000 will need to determine how this tax will impact them.
The Washington Supreme Court in a 7-2 decision upheld the 7% capital gains tax enacted in 2021, concluding the tax violated neither the Washington state Constitution nor the U.S. Constitution. The tax applies to individuals with capital gains of more than $250,000.
Major League Baseball (MLB) and the league's players union were hit this week with a lawsuit for moving the All-Star Game out of Georgia earlier this year.